Investment Canada Act

Marginal note:Prohibition

• 16 (1) A non-Canadian shall not implement an investment reviewable under this Part unless the investment has been reviewed under this Part and the Minister is satisfied or is deemed to be satisfied that the investment is likely to be of net benefit to Canada.

• Marginal note:Exceptions

  (2) Subsection (1) does not apply

  • (a) where the Minister has sent a notice to a non-Canadian making an investment to the effect that the Minister is satisfied that a delay in implementing the investment would result in undue hardship to the non-Canadian or would jeopardize the operations of the Canadian business that is the subject of the investment;

  • (b) to an investment made through an acquisition referred to in subparagraph 28(1)(d)(ii); or

  • (c) to an investment reviewable pursuant to section 15.

• Marginal note:Request for notice

  (3) If a non-Canadian makes a written request to the Minister for a notice referred to in paragraph (2)(a), the Minister shall, within 30 days after receiving all the information required for the Minister to decide whether the conditions described in that paragraph exist, advise the non-Canadian whether he or she will issue the notice or not.